The cryptocurrency market saw significant movements today.
Bitcoin experienced a 4% increase in its value, while the newly launched Smog (SMOG) token on the Solana blockchain saw a massive surge of over 50% in the past 24 hours, reaching a price of $0.044.
This impressive rise has sparked speculation that SMOG could be the next popular Solana-based meme coin, following the success of previous tokens like Bonk (BONK) and dogwifhat (WIF).
SMOG Token Price Surges Over 50% After Finding Stability
SMOG token made its debut last week on Jupiter, one of the most popular decentralized exchanges (DEXs) on Solana.
The hype was immediate – within the first three days of launch, SMOG’s value rose by over 3,000%.
However, like many new meme tokens, the price experienced a sharp decline on Sunday and Monday as early investors took profits.
At one point, SMOG had dropped by almost 53% from its peak price.
However, in the past 24 hours, the token has regained its momentum and has seen a surge of over 50%.
It appears that after its initial rapid growth, SMOG has stabilized and found a support level.
With over 14,600 holders and a 24-hour trading volume of $521,000, there is a strong interest in the token that could potentially drive its price even higher in the future.
Therefore, the next few days will be crucial in determining if SMOG has the potential to become a staple in the Solana ecosystem.
Dragon-Themed SMOG Promises the Biggest Airdrop Ever
So, what exactly is SMOG, and why is it generating so much hype?
SMOG is a dragon-themed token that aims to become one of the top meme coins on Solana.
The developers have promised to deliver the “biggest airdrop in history,” which will reward SMOG holders with 35% of the total token supply.
Other factors contributing to the token’s popularity include its eye-catching visuals, which align with the Year of the Dragon in the Chinese zodiac calendar.
